Ever since Ibotta was founded in 2011, the cloud has been part of their DNA. The Denver company produces a mobile app consumers use to get cash back, with users tapping into well over $275 million in rebates in the first seven years. As their cloud use grew, they turned to Cloudability for cost management of their AWS spending. Empowered with our platform, they were able to get the same cloud power for $1 million less. That saved money, in turn, could be invested back into key systems to drive the next great expansion for Ibotta.
Check out the video to hear the story in their own words.
Ditch the Spreadsheets to Save Time and Money
“Our AWS footprint really took off as we grew, but we struggled to gain visibility into our resource utilization,” says Ron White, Vice President of Engineering for Ibotta.
Before Cloudability, Ibotta tracked their AWS usage and spend using a spreadsheet. At first, it was a workable, if time-consuming, system, but they outgrew it quickly. By 2017, their yearly cloud spend exceeded $4 million. Spreadsheet cost tracking just wasn’t cutting it anymore. Looking for a solution, they turned to the AWS Marketplace — and Cloudability, an Advanced Technology Partner in the AWS Partner Network. In a few hours they were up and running, this time without the spreadsheets.
“With Cloudability, we get fast, comprehensive reporting and analysis of our AWS spending across all our accounts,” says Scott Bassin, the Director of Engineering for Ibotta.
Armed with Cloudability’s visibility and analytics into AWS spending, Ibotta boosted its coverage of Amazon EC2 Reserved Instances from 40% to 60% and purchased reserved capacity within Amazon DynamoDB. All told, these changes freed up $1 million for their cloud, or 25% of their total cloud spend. Those extra resources enabled the Ibotta team to move key competitive items out of the backlog and into production. They used the $1 million to invest in their machine learning technology and to fund building a multivariate test framework.
And they’re just getting started.
“Cloudability will enable us to make smarter decisions about the work we do, especially when it comes to data science,” says White. “We can see that specific AWS usage related to our data-science work is costing us a certain amount to run each day, for example. We are excited to see where both AWS and Cloudability bring us in the future.”